CanAsia Energy Corp V.CEC

Date of capital return?

[kelsterman69]

Can anyone speculate on when we should see our money returned to us? And the money that is being made on the production, is that accretive to us or the buyer?
 Cheers.

[bullhorn3]

Sadly, Jeff says "Effective date of the transaction is Jan 1, 2022. Profits accrue to buyer from this date forward."

[nozzpack]

High oil prices since Jan 22 means that the buyer will pay much less than the nominal price paid to POE

[radcat]

Like I said, I would have preferred to keep L-53 and receive distributions instead of selling for a stink bid price. Why would we give up revenue for from Jan 1st when the deal closes in August. Are we getting a 8 months interest on the money we are receiving? Knowing this would you still want this deal? Not me! 

[kelsterman69]

How much skin does Jeff actually in this game?

[radcat]

2022-05-14 Chisholm, Jeff Howard -67,500 -$64,125.00 90,000

[bullhorn3]

More info from Jeff when I suggested that the deal was unfavourable so might vote against it and salaries would eat CanAsia startup funding: " 1) the salaries total, post deal are $190,000 cad annually. 2) over 15 companies reviewed the asset, 5 bid, this was the best offer.  3) this is a late stage producing asset with a total concession area of 27km2. I would highly recommend

[Lucky2021]

I support this deal if we take in consideration that recession is coming and oil prices will plunge by year end If we lucky enough to sell Andora project by the next few month that would be great for everyone

[kelsterman69]

Thanks for everyone who has replied to my whining.    I wish this info about salaries and bids and whatnot was made public for those who were interested to know by just visiting their website.  Anyway, I just hope that they close this as quick as possible. I have a decent chunk of cheese being held hostage at the moment. I'd just sell but I want the shares in the new entity